Free Trial

APAC Credit Softer, Primary Market Remains Quiet

CREDIT UPDATE
  • Regional Asian equities weaker today, following disappointed earnings results from Tesla, while Alphabet told investors they may need to wait before seeing returns on AI investments. There has been a sudden drop in US equity futures during the Asia lunch break, although there seems to have been little in the was of catalyst for the move at this point. The Taiwan & Philippine's markets were closed today due to Typhoons.
  • Aus credit market was quiet today, bonds drifted about 1bps. Snr Bank paper is unch to 1bps wider, Bank Sub paper is unch, while corps are 1bps weaker.
  • Asia credit is a touch softer today, Macau gaming trades 1-3bps wider, Financials are 1-2bps weaker with Chinese and Korean banks under-performing, Real estate names continue Tuesday moves trading 1-3bps tighter, while tech was mixed with semiconductor the worst performers.
  • Indonesian quasis such as PLNIJ & PERTIJ were weaker again as the IDR continues to slip over the past few days leading to higher funding costs on the USD lines.
  • Aus iTraxx CDS is 1bp higher at 65bps & Asia Ex-J iTraxx is unchanged at 94.5bps
  • Primary: Mirae Asset $Benchmark 3Y at +185 Area & LBBW A$ 5-Year Senior Pfd Kangaroo Bonds at BBSW +135bp area
201 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Regional Asian equities weaker today, following disappointed earnings results from Tesla, while Alphabet told investors they may need to wait before seeing returns on AI investments. There has been a sudden drop in US equity futures during the Asia lunch break, although there seems to have been little in the was of catalyst for the move at this point. The Taiwan & Philippine's markets were closed today due to Typhoons.
  • Aus credit market was quiet today, bonds drifted about 1bps. Snr Bank paper is unch to 1bps wider, Bank Sub paper is unch, while corps are 1bps weaker.
  • Asia credit is a touch softer today, Macau gaming trades 1-3bps wider, Financials are 1-2bps weaker with Chinese and Korean banks under-performing, Real estate names continue Tuesday moves trading 1-3bps tighter, while tech was mixed with semiconductor the worst performers.
  • Indonesian quasis such as PLNIJ & PERTIJ were weaker again as the IDR continues to slip over the past few days leading to higher funding costs on the USD lines.
  • Aus iTraxx CDS is 1bp higher at 65bps & Asia Ex-J iTraxx is unchanged at 94.5bps
  • Primary: Mirae Asset $Benchmark 3Y at +185 Area & LBBW A$ 5-Year Senior Pfd Kangaroo Bonds at BBSW +135bp area